I have a 3 payday loans, which I took out of desperation like so many of us. I have been paying fees and even though I'm up to date on my payments I'm having a hard time. I don't know much of the law re: these payday loan companies but I read that they're not legal in Puerto Rico. Was it legal to loan me money knowing I live in PR? What can I do to settle this debt in a fair manner? 1rst loan was with Money World Lending for $300.00, they didn't deduct anything from my account last month and I can't reach them since July, it seems that they are not operating but I dont want to be in trouble and be suddenly charged the full ammount. The 2nd loan is for $150.00 with United Cash loans and the 3rd with One Click Cash both for $150.00. I noticed that the last 2 companies are one and the same but advertise under different names. PLEASE HELP!!! I need to get out of this cicle and this mistake is costing me and my family money so much needed.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.